Artikel
Determinants of willingness-to-pay for sustainable wine: Evidence from experimental auctions
The current paper explored young adult wine drinkers' willingness to pay (WTP) for three sustainable wines through Vickrey fifth-price full bidding auctions. In order to investigate factors affecting WTP the study compared the bid functions estimated with Tobit models and the premium functions estimated with ordinary least squares (OLS). The econometric results reveal that female and older respondents tend to bid higher for sustainable wines. Moreover, knowledge of specific claims increased price premiums. Our findings have significant marketing and policy implications for the promotion of sustainable wines among young adults.
- Language
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Englisch
- Bibliographic citation
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Journal: Wine Economics and Policy ; ISSN: 2212-9774 ; Volume: 2 ; Year: 2013 ; Issue: 2 ; Pages: 85-92 ; Amsterdam: Elsevier
- Classification
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Wirtschaft
- Subject
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Experimental auctions
Sustainable wine
Willingness-to-pay
- Event
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Geistige Schöpfung
- (who)
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Vecchio, Riccardo
- Event
-
Veröffentlichung
- (who)
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Elsevier
- (where)
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Amsterdam
- (when)
-
2013
- DOI
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doi:10.1016/j.wep.2013.11.002
- Handle
- Last update
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10.03.2025, 11:42 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Artikel
Associated
- Vecchio, Riccardo
- Elsevier
Time of origin
- 2013
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